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Prepare journal entries to record the accrual of interest

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On October 1, 2018. Spooner Corporation issued $1,020,000 of 10-year, 6% bonds at 100. Interest is payable semi annually on October 1 and April 1. Spooner's year end is December 31 and the company records adjusting entries annually.

problem 1: Prepare journal entries to record the following: (Round answers to the nearest whole dollar. e.g. 5,275. Credit account titles art automatically indented when the amount is entered. Do not indent manually.)

1. The issue of the bonds on October 1,2018.

2 The accrual of interest on December 31, 2018

3. The payment of interest on April 1,2019.

Reference no: EM132783855

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